Insmed, Inc. $INSM Shares Purchased by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments boosted its Insmed stake by 28.5% in the first quarter, holding 282,734 shares worth about $46.6 million after buying 62,650 additional shares.
• Wall Street remains broadly positive on INSM, with a consensus rating of Moderate Buy and an average price target of $211.05. Several firms recently reiterated buy-equivalent ratings, including Guggenheim, Truist, Stifel, Cantor Fitzgerald, and Leerink Partners.
• Insmed reported better-than-expected Q1 results, posting a smaller-than-expected loss of $0.76 per share and revenue of $305.96 million, up 229.7% year over year. However, insiders have sold shares in recent months, including a combined 54,590 shares over the last 90 days.

Allspring Global Investments Holdings LLC increased its position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 28.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 282,734 shares of the biopharmaceutical company's stock after buying an additional 62,650 shares during the period. Allspring Global Investments Holdings LLC owned 0.13% of Insmed worth $46,612,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INSM. Wealthfront Advisers LLC raised its position in shares of Insmed by 84.2% during the 1st quarter. Wealthfront Advisers LLC now owns 18,404 shares of the biopharmaceutical company's stock worth $3,009,000 after purchasing an additional 8,413 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Insmed in the first quarter valued at about $177,000. MASTERINVEST Kapitalanlage GmbH purchased a new position in Insmed in the 1st quarter worth approximately $759,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Insmed by 194.1% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,412 shares of the biopharmaceutical company's stock worth $721,000 after purchasing an additional 2,912 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in shares of Insmed by 12.3% during the 1st quarter. Sanctuary Advisors LLC now owns 23,969 shares of the biopharmaceutical company's stock worth $3,919,000 after purchasing an additional 2,633 shares during the last quarter.

Wall Street Analysts Forecast Growth

INSM has been the subject of a number of analyst reports. Guggenheim restated a "buy" rating and issued a $207.00 price target on shares of Insmed in a research report on Friday, July 10th. Truist Financial lowered their price objective on Insmed from $205.00 to $185.00 and set a "buy" rating on the stock in a research note on Wednesday, May 13th. Stifel Nicolaus upped their target price on Insmed from $205.00 to $208.00 and gave the company a "buy" rating in a report on Tuesday, March 24th. Cantor Fitzgerald restated an "overweight" rating on shares of Insmed in a report on Wednesday, June 10th. Finally, Leerink Partners raised their target price on Insmed from $210.00 to $215.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Insmed presently has a consensus rating of "Moderate Buy" and an average target price of $211.05.

Insider Buying and Selling at Insmed

In other Insmed news, insider Michael Alexander Smith sold 6,149 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $108.47, for a total transaction of $666,982.03. Following the sale, the insider directly owned 41,613 shares in the company, valued at $4,513,762.11. This represents a 12.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 2,370 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $242,379.90. Following the completion of the sale, the chief operating officer owned 98,603 shares in the company, valued at approximately $10,084,128.81. The trade was a 2.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 54,590 shares of company stock worth $5,793,738. 2.10% of the stock is currently owned by company insiders.

Insmed Stock Up 0.8%

Shares of INSM opened at $108.32 on Friday. The firm has a market cap of $23.48 billion, a P/E ratio of -18.84 and a beta of 0.78. Insmed, Inc. has a 12-month low of $90.39 and a 12-month high of $212.75. The company's 50-day moving average price is $105.72 and its 200 day moving average price is $135.91. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business's revenue was up 229.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.42) EPS. On average, sell-side analysts forecast that Insmed, Inc. will post -2.43 earnings per share for the current year.

Insmed Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company's principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.

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